Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Crosses Above 50-Day Moving Average After Earnings Miss

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) shares passed above its 50-day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 50-day moving average of $0.76 and traded as high as $1.15. Investcorp Credit Management BDC shares last traded at $1.06, with a volume of 67,423,283 shares traded.

The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.17). The firm had revenue of $3.14 million for the quarter, compared to analyst estimates of $4.61 million. Investcorp Credit Management BDC had a negative return on equity of 3.32% and a negative net margin of 171.03%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Investcorp Credit Management BDC has an average rating of “Sell”.

Institutional Investors Weigh In On Investcorp Credit Management BDC

Institutional investors have recently bought and sold shares of the company. Bulldog Investors LLP raised its stake in Investcorp Credit Management BDC by 7.7% during the first quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock worth $967,000 after purchasing an additional 42,583 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Investcorp Credit Management BDC in the 2nd quarter valued at approximately $45,000. Squarepoint Ops LLC purchased a new stake in shares of Investcorp Credit Management BDC in the 2nd quarter valued at approximately $34,000. Finally, North Ground Capital purchased a new stake in shares of Investcorp Credit Management BDC in the 2nd quarter valued at approximately $32,760. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Investcorp Credit Management BDC Price Performance

The stock’s fifty day moving average price is $0.76 and its 200-day moving average price is $1.41. The firm has a market cap of $15.30 million, a price-to-earnings ratio of -0.64 and a beta of 0.72. The company has a current ratio of 7.28, a quick ratio of 7.28 and a debt-to-equity ratio of 2.20.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) is a business development company that provides financing to privately held, middle-market companies in the United States. The company seeks to generate income primarily through investments in debt securities, while also pursuing opportunities for long-term capital appreciation. Its investment portfolio may include senior secured first-lien and second-lien loans, subordinated debt, mezzanine financing and, in some cases, equity-related investments.